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Cox & Kings Is Said to Weigh Sale of Meininger Hotel Chain

  • Indian travel firm works with Lazard to gauge interest in unit
  • Company seeks ways to cut debt after defaulting this year
Meininger Hotel in Berlin. 

Meininger Hotel in Berlin. 

Photographer: Schöning/ullstein bild via Getty Images

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Cox & Kings Ltd., the Indian travel company, is exploring a potential sale of European hospitality chain Meininger Hotels as it seeks to cut debt, according to people with knowledge of the matter.

The company is working with Lazard Ltd. to gauge interest from potential suitors for Berlin-based Meininger, said the people, who asked not to be identified because the information is private. Shares of Cox & Kings fell as much as 10.3% in Tuesday trading, hitting a record low, and were down 4.5% at 2:18 p.m. in Mumbai.